Barcelona youngster Sergi Roberto was also the subject of Arsenal boss Arsene Wenger's attention as he took in Levante versus Barcelona this week.
But the Spanish newspaper reports that Roberto, the 21-year-old La Masia graduate, was also on the Gunners boss's radar.
Barcelona won the Copa del Rey quarter-final 4-1, with all three players impressing for the Catalan giants.
Tello in particular was outstanding as the winger bagged a hat-trick for Barcelona.
Wenger has today insisted that it's unlikely that Arsenal will strengthen in the January window despite speculation to the contrary.
The club has been heavily linked with several high profile strikers, with Olivier Giroud Arsenal's only recognised striker apart from Niklas Bendtner.
But Tello and Pedro both operate out wide - and while they could easily fit into Arsenal's attacking system, neither is a natural goalscorer.